When a beginner enters the fun and challenging world of coin collecting, he or she is suddenly surrounded by new terms like “Numismatist,” “Red Book” and “Slabbed.” In order to get the most out of this hobby, it’s important that the novice collector become familiar with numismatic lingo as soon as possible. Here’s a list of coin collecting terms that every collector should know before attempting to buy, sell or appraise a coin:
About Uncirculated – A coin grade indicating that it has high points worn but still retains some original luster. Also known as AU.
Album Friction – Horizontal marks on a coin caused by the plastic “slides” of a coin album touching the high points of the coin when removed and replaced repeatedly. Also known as slide scratches.
Bag Marks – Minor marks on an otherwise Uncirculated coin often caused by storage and shipping in cloth bags. A common occurrence for old coins.
Branch Mint – A United States mint other than the Philadelphia mint. Coins struck at a branch mint are sometimes listed with a C-number (e.g., Cohen variety), which refers to a specific die variation.
Coins with very little or no signs of wear are grouped into the Uncirculated or mint state categories, which are more valuable than those with significant wear. Coins in these categories often have a premium payout from prospective buyers, so it’s important for the novice collector to understand this grading process.
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